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After opening the day deep in red tracking weak global cues, Indian share markets recouped most of the losses in the latter half to end marginally lower.

A better-than-expected unemployment rate in the US concretized the belief among investors that further rate hikes are in store while a notable recovery in US stock futures aided the sentiment.

Along with Indian benchmark indices, global stocks too slipped after a surprise drop in US unemployment quashed any thought of a pivot on policy tightening ahead of an inflation reading, which is expected to see core prices move higher again.

At the closing bell, the BSE Sensex stood lower by 200 points (down 0.3%).

Meanwhile, the NSE Nifty closed down by 73 points (down 0.4%).

Axis Bank, TCS, and HDFC Life Insurance were among the top gainers today.

Tata Motors, Hero MotoCorp, and Asian Paints, on the other hand, were among the top losers today.

The SGX Nifty was trading at 17,215 down by 99 points, at the time of writing.

Broader markets ended on a mixed note. The BSE Midcap dived lower by 0.8% and the BSE SmallCap index ended higher by 0.6%.

Sectoral indices ended on a mixed note with stocks in the media sector, and IT sector witnessing buying.

On the other hand, stocks from the power sector, realty sector, and FMCG sector witnessed selling.

Shares of Tata Chemicals, IDFC, and Cochin Shipyard hit their 52-week highs today.

Tata Motors, Axis Bank, and TCS were amongst the most active shares on the BSE today.

If you're interested in knowing which shares to trade, read our guide on the best intraday stocks for today.

Asian stock markets ended on a weak note. The Nikkei ended the day lower by 0.7%, while the Hang Seng plunged 2.9%. The Shanghai Composite ended 1.6% lower.

The rupee is trading at 82.3 against the US$. After touching a record low last week, the rupee is once again back to hitting new lows today. 

Gold prices for the latest contract on MCX are trading down by 1.3% at Rs 51,960 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading lower by 2.3% at Rs 59,420 per 1 kg.

In news from the automobile sector, Tata Motors share price was among the top buzzing stocks today.

The share price of Tata Motors plunged 4% after the company's luxury arm's wholesale volumes were disappointed.

Tata Group company Tata Motors share fell trade after the company's luxury arm Jaguar Land Rover (JLR) reported a muted update for the September quarter.

Jaguar Land Rover reported a 4.9% decline in retail sales at 88,121 units in the second quarter ended 30 September 2022. The company had posted retail sales of 92,710 units in the same quarter previous fiscal.

Sales of the Jaguar brand were at 17,340 units in the second quarter as against 19,248 units in the year-ago period, down 9.9%.

Commenting on it, Tata Motors in an exchange filing said,

While there was an improvement in sales in the second quarter, it remained constrained by semiconductor shortages. The zero net debt target could get pushed beyond Financial Year 2025.

With a broader vision in place, other positive drivers include secured funding for its EV business (PV), the launch of affordable offerings in the E-PV domain (Tiago) and big order wins in the electric-bus space domestically.

With global retail orders again setting new records in the quarter, it said adding, that as of 30 September 2022, the total order book has grown to 2.1 lakh units, up around 5,000 orders from 30 June 2022.

However, Tata Motors' total domestic sales increased by 44% to 80,633 units in September 2022.

Tata leads India's EV market, helped by government subsidies and high tariffs on imports and the company intends to expand its electric PV portfolio from 3 EVs at present to 10 by financial Year 2026.

Note that the electric vehicle (EV) megatrend is a once in a century revolution, happening right in front of us.

The revolution has taken the auto sector by storm. All segments of the sector are ripe for disruption and India's top EV stocks are set to benefit from this shift.

Moving on to news from the power sector, Jaiprakash Power Ventures was also in focus today.

Shares of Jaiprakash Power Ventures jumped 4% after its board approved the sale of the Nigrie cement grinding unit.

The company has decided to sell its cement grinding unit in Nigrie, Madhya Pradesh along with other non-core assets.

Commenting on it, Jaiprakash Power Ventures in exchange filling said,

In continuation to our letter dated October 9, this is to inform you that the Board of Directors in their meeting held today, October 10, have inter-alia, decided to divest the company's Nigrie Cement Grinding Unit as well as other non-core assets.

The meeting was convened to apprise the board of the recommendations of the audit committee regarding proposals of divestment of the unit and review the progress made in the reduction of the company's debt.

Further from the street talks it is speculated that Adani Group is in talk to acquire Jaiprakash Power's cement unit for Rs 50 bn.

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